Selling Internationally: Start Collecting Foreign Payments with Bumpa’s Multi-currency Feature!

Expand your business globally with Bumpa's multi-currency feature!

Accept payments in USD and GBP from international customers in minutes and start selling worldwide immediately! You can customise your currency options and update your preferences at any time, giving you a more flexible, professional, and borderless business presence in no time, all without complicated foreign exchange processes.

Download the app and start your global journey today!

Nigerian products are hot property across the globe right now! From our vibrant fashion designs to natural skincare products, international demand for Nigerian goods has exploded in recent years. Did you know that Nigerian non-oil exports grew by over 20.79% in 2023? Or that Nigerian fashion designers have seen a massive increase in international inquiries since 2021?

This boom isn't just happening by chance. More Nigerians in diaspora are looking for authentic products from home, while global consumers are increasingly discovering and falling in love with our unique offerings. Nigerian music, movies, and culture have also created a ripple effect, increasing curiosity and demand for our products worldwide.

But here's the challenge many Nigerian business owners face: while the demand exists, actually selling to these eager international customers has been difficult. One of the biggest roadblocks? Payment collection. When a customer in London or New York wants to buy your products, they expect to pay in their local currency with their preferred payment method. Until now, this meant complicated workarounds, hefty fees, or simply missing out on these sales altogether.

That's why we're thrilled to announce that Bumpa has solved this problem with our new multi-currency feature! Now, you can easily accept payments in USD and GBP, removing the final barrier between your amazing products and those international customers who are eager to buy them!

Related: These 5 Urgent Fixes Will Save Your Dying Online Store!

First, What are The Benefits of Selling Internationally?

Let's face it - selling only in Nigeria means you're missing out on millions of potential customers. Here's why going global is a game-changer:

• You can reach more customers than ever before

• Your sales can keep coming in 24/7 from different time zones

• You don't have to worry about putting all your eggs in one market basket

• Your brand becomes known worldwide - imagine someone in London or New York wearing your designs!

Next, What are the Common Challenges of International Selling, And How Have We Solved Them?

We know selling internationally has always seemed tricky:

"How will customers pay me in dollars?"

"What about all those currency conversion headaches?"

"Will I get my money easily?"

Well, Bumpa's multi-currency feature makes these problems disappear.

Introducing Bumpa's Multi-currency Feature!

Here's the big news: You can now accept payments in USD and GBP through Stripe! This isn't just any payment system - Stripe works in 195 countries, and your customers can use over 100 payment methods!

This amazing feature is available to all merchants on our Pro and Growth subscription plans. See all about our plans here.

How the Multi-currency Feature Works

With our multi-currency feature, you have total control.

1. You set your own currency value: Decide what works best for your business (e.g., $1 = ₦1,500). You can also adjust it to match market rates anytime. This flexibility means you can price your products in a way that makes sense for both you and your international customers.

2. Choose how you receive your money based on your plan: On the Pro plan, all your foreign currency sales will be converted and settled directly into your Nigerian bank account in Naira - no hassle with foreign accounts or complicated conversions! But the Growth plan gives even more flexibility. You can either receive your money in Naira or choose to get paid in USD. This is perfect if you're sourcing materials internationally or building a truly global business with expenses in different currencies. Either way, you're covered!

3. The transaction fee is just 7%: For everything you're getting - international payments, currency conversion, secure transactions, and global reach - the fee is just 7% per transaction. Compare this to the complicated fees and hidden charges of traditional international payment methods, and you'll see the value right away.

4. Create orders and share invoices in USD or GBP: Now you can create professional invoices directly in dollars or pounds. Your customers will appreciate seeing prices in their own currency, making their shopping experience smooth and familiar.

5. Send payment links to customers abroad: With just a few clicks, you can send secure payment links to customers anywhere in the world. They work perfectly on mobile or desktop, making it super easy for customers to pay you no matter where they are.

6. Issue receipts in the customer's preferred currency: After your international customers make a purchase, they'll automatically receive a professional receipt in their own currency. This is perfect for their record-keeping and builds trust in your brand. Plus, it makes things easier if they need to reference their purchase later or process it as a business expense.

Setting Up Multi-Currency Payments on Bumpa

Getting started is easy! If you're already on a Pro or Growth plan, you’ll be required to fill out a simple form. Click here to get started. Next, you’ll be contacted by the Bumpa Support team to help you enable the multi-currency feature.

Once enabled, you can:

• Accept orders on your website in multiple currencies

• Create orders and share invoices in USD or GBP

• Send payment links to customers abroad

• Issue receipts in the customer's preferred currency

Your customers will complete payments through Stripe, making their experience fast, smooth, and secure.

Important Things to Know About Settlements

We want you to be fully informed about how settlements work:

• Naira settlements take 5 days

• USD settlements take 7-10 days

These timelines give enough time to handle any issues, like chargebacks any other arising matters.

Understanding Chargebacks

Stripe applies a $15 fee for every chargeback (when a customer disputes a charge), whether you win or lose the dispute. This fee will come from your settlements, as Bumpa can't cover this cost.

To help you avoid chargebacks, we recommend:

• Making returns super easy for customers

• Being clear about shipping times

• Staying available to answer customer questions

Getting Started - Your Checklist

Ready to go global? Here's your quick checklist:

• Be on a Pro or Growth subscription plan

• Contact Support to enable multi-currency

• Set your exchange rates

• Update your product descriptions to mention international shipping

• Start creating orders in the app in USD or GBP!

Conclusion

The world is waiting for your amazing products! With Bumpa's multi-currency feature powered by Stripe, you can now easily sell to customers from anywhere in the world.

The days of limiting your business to just Nigeria are over. It's time to think bigger and sell globally. If you already have multi-currency enabled, you can start creating USD or GBP orders today!

Not enabled yet? No worries – just fill out the form here and our Support team will contact you and set you up in minutes.

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